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Author: wzambon Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1976241  
Subject: Modern Financial Alchemy Date: 2/7/2013 12:42 PM
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The transubstantiation of caca into gold....

Thanks to the magic of FAS 140 banks can literally transform worthless garbage into supersafe Treasurys, then use that newly transformed collateral via further repo as cash to fund simple stock purchases, and at the end of the day nobody knows where the exposure came from, who the counterparty is, and what the ultimate liability is!

http://www.zerohedge.com/news/2013-02-07/moden-market-alchem...

This is headed for a very bad ending.

The crooks are still at it, and they are ingenious.

The only difference between Democrats and Republicans is that Democrats are the ones currently in the drivers' seat.
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